Automotive Interior Market

Market Leader - Automotive Interior Market

The automotive interior market is projected to grow from USD 123.2 billion in 2020 to USD 153.8 billion by 2025, at a CAGR of 4.5% during the forecast period. The rising demand for safety, convenience, and comfort from the consumers and various government regulations regarding safety and lightweight vehicles are forcing automotive interior manufacturers to bring technological advancements in various automotive interior components.

Some of the key market players include Continental AG (Germany), Faurecia SA (France), Grupo Antolin (Spain), Marelli (Japan), and Magna International Inc. (Canada), Adient (US), Toyota Boshoku (Japan), Visteon (US), Dräxlmaier Group (Germany), Panasonic Corporation (Japan), and Yanfeng Automotive Interiors (China), among others. New product developments, expansions, collaborations, and supply contracts are the key strategies adopted by these players to gain traction in the automotive interior market.

Grupo Antolin specializes in designing, developing, and manufacturing automotive components. It is one of the leading players in the automotive interiors and offers products and solutions segments such as overheads & trunk trim, lighting and cockpits & consoles, and doors & hard trim. In July 2020, Grupo Antolin entered a strategic partnership with German integrated electronics provider AED Engineering. Grupo Antolin will improve its electronic capabilities, which are vital for the transformation process it is undertaking to consolidate the company as a global provider of technological solutions for automotive interiors.

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Continental offers products such as center stack, display solutions for rear-seat passengers, HUDs, and instrument clusters under the Interior business segment. In September 2020, Continental decided to repatriate the joint venture with Osram. Continental and Osram each have a half share in the joint venture, which was founded in 2018 and specializes in intelligent lighting systems for automobiles. The two companies are currently holding talks that should be concluded by the end of the year. The joint venture will then be dissolved. Through a future cooperation agreement, the companies plan to stay connected to their automotive industry customers. The future will see new lighting solutions based on the close interaction of electronics, software functionality, and modern LED lighting sources.

Faurecia is another key player in the automotive interior market. Under the automotive seating and automotive interior segment, the company designs and manufactures complete vehicle seats, seating frames, and adjustment mechanisms. The Interior system includes the design and manufacture of instrument panels, complete cockpits, door panels and modules, and acoustic systems. In July 2020, Faurecia and BAIC announced the establishment of a new 50-50 joint venture in China. This partnership will be created through Faurecia’s purchase of the 50% shareholding of Beijing BAI DAS Automotive System Co., Ltd. from DAS Corporation. The transaction will be completed once regulatory approvals are obtained in China. The new joint venture between BAIC and Faurecia will provide complete seat assembly, seat frames, foams, and headrests initially for BAIC Hyundai and BAIC-owned brands. Headquartered in Beijing, the joint venture has 500 employees and four plants in Beijing, Chongqing, Huanghua, and Xiangtan.

Related Reports:

Automotive Interior Market by Component (Seat, Interior Lighting), Material (Glass Composite, Carbon Composite, Metal, Vinyl, Fabric), Autonomous Driving (Semi-autonomous, Autonomous), Electric Vehicle, Vehicle Type and Region - Global Forecast to 2025

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Report Code
AT 3163
RI Published ON
11/3/2020
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